Jan forex thread..

It went there before, it could go again.

I like the EU short because I dont believe their shell games and think the euro probably deserves to be at par or worse eventually.

That seeeems to be the biggest picture...but I'm just a rookie...it does make sense though...and there will be nice room for moves between here and there (1.20).   But today was the largest DAILY percentage GAIN (it was up 2.33% at its highest point I believe) for the eurusd pair since march of 2009 I believe and should not be expected again for quite some time.  Thanks to Japan and China, not too many people saw this coming on such a extreme measure so quickly hence the mass short covering?!?!

Worse Wall??? Wow, you are an even bigger bear than I thought you were....I love it!

When Clinton was in office and I was a broker, the Euro was in the .80's relative to the USD.

Over the summer many were calling for par in EU..as Wall said not much has changed since then the shell game wont hold up forever..

Looking over USD chart 79 is a big area really if that doest hold some small support areas between 76-77 but next strong point is mid 74s..this is just from drawing lines on charts..havent gone through tech writings or looked at pivot points but thats what i see..

Eu daily chart has the 100 MA at 134.09..the high from 12/14 is at 134.96...the 4hr looked great for a shrt about a candle ago..+DI got rejected at ADX and RSI was at 79..im not sold on this move up here the monthly chart has the DIs and ADX all coming to a point looking at a cross lower..RSI is at 48 no help there and its not the middle of the month yet so i could see a push up to 12/14 high and then lower

you think it'll hit that high before a pullback?

Not sure really but selling here at this price wouldnt be the end of the world..we[Wall and i]buy/sell more to price avg like these are stocks..

So if you were to short this pair here say you start with one lot at 133.50 and it moves up to 134.90s..we would sell more there and have two lots with an avg price of 134.20ish..

Im not sayn to do this just pointing it out...if you guys have watched or plan on watching these threads youll see what im talking about..margin management is the name of the game..dont start a trade with a crazy amount of lots and you leave yourself some room to work the position

https://www.barchart.com/cheatsheet.php?sym=^EURUSD


quick visual on where the price currently rests

you leave yourself some room to work the position


Exactly,  that is the beauty of Forex, you can manage your play.  Correlations help too!

Well I am in at 1.3425, lets see if I can get 100 out of it eventually.

Should be good here shortly Wall,nice trade

132.40 next stop here?

EUR/USD

...some indicators are all coming to a convergence at this time so it will be fun to see what happens

Nice trade person

Gonna look at 1.3525 as a new entry on the EU short, might not happen today but I bet it happens this week.

Thanks Buck...

looks like we may have a positive bounce on the EUR/USD pair

USD/CAD looks pretty nice to me (Daily chart convergence) for a long play (1 month or so). Not the biggest moving pair on the board but a steady progression. 

Im in on EU..set a sell order right at the res line i mentioned the other day..1.3496..shouldve been in on a buy in the 1.3250s,dont know what i was thinking??

Im on days but havent been sleeping well..hell its 3am im up and have to pick up supplies for a job at 7am..

GL fellas

I will close out that EUR/USD position @ 1.3365

incorrect post....that closing price was obviously 1.3465

Well, looks like the Eur/USD will be making its move today

Got in short at 1.3525 will shoot for 100 as usual.

Short AUD/USD